Famous Footwear Selects ReconNET for Transaction Reconciliation and Exception Management
Overview
Famous Footwear is America’s #1 retailer of discounted brand name shoes for the entire family, with more than 900 stores nationwide.
Challenges
Famous Footwear, operating over 800 stores along with another 350 Naturalizer locations, was hearing more and more about automated “best practices” for reconciliation, deposit verification, and other treasury related software. Senior management was becoming convinced that time-consuming traditional reconciliation processes would negatively impact profitability and overall competitive positioning of their company. A team was assembled to investigate what was available and the results that could be achieved.
Objectives
Famous Footwear wanted to achieve the following objectives:
- Ensure immediate awareness of shortage / overage situations
- Reduce staff and improve productivity
- Cut overall reconciliation time to one day and improve accuracy
- Minimize number of bank relationships and corresponding fees
Capabilities Provided
Famous Footwear implemented ReconNET as its deposit verification solution.
Other Information
For more information on how you too can improve transaction reconciliation and exception management with ReconNET, contact Trintech today.
